Public Companies To Benefit From DigitalGlobe IPO (DGI, MS, OZM, ORB)

DigitalGlobe, Inc. may be the next high tech initial public offering, and it looks like several public companies will stand to benefit from it.  This is a high-resolution satellite image operation that will trade under the “DGI” ticker on the New York Stock Exchange.  We have a tentative launch indication of mid-May.  Morgan Stanley (NYSE: MS), Och-Ziff Capital Management (NYSE: OZM), Orbital Sciences Corporation (NYSE: ORB) are the public companies which are all listed as shareholders of DigitalGlobe, although these are just a few among the lot of other listed owners and insiders.

A price range of $16.00 to $18.00 has been established, and this would yield approximately $250 million in gross proceeds before fees and commissions.  The lead underwriters are listed as Morgan Stanley and J.P. Morgan Chase & Co., and co-managers are listed as Citigroup, Merrill Lynch, and Jefferies.

The listed shares are noted 43,464,751 shares of common stock outstanding on April 15, 2009 and 44,871,007 shares of common stock outstanding after the completion of this offering.

Approximately 14.7 million shares are in the offering.  The company will be offering 1,366,256 shares of its common stock and the selling stockholders are offering 13,333,744 shares.

DigitalGlobe’s satellite images are used by the defense sector, energy sector, mining sector, and more. The company’s revenue was roughly $275 million in 2008.

JON C. OGG